Birdwatch Note Rating
2023-03-19 06:14:12 UTC - SOMEWHAT_HELPFUL
Rated by Participant: 82677A0767C10EFF0D484660C8C38B98DA27BB2B8D78F2AE42B903E2E48BAFC3
Participant Details
Original Note:
The 3% number Biden is referring to is based on a value increase of held investments (not on their income). However, these investments can also lose value which why they are taxed when sold and become income. Calculating on that, the avg tax rate for them is 25%, not 3. https://www.politifact.com/factchecks/2022/jul/13/joe-biden/joe-bidens-dubious-math-federal-income-tax-burden/
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